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Thryv Grows SaaS Revenue 41% Year-Over-Year for Third Quarter 2021

11/11/2021

Raises Revenue Guidance for Full Year 2021

DALLAS--(BUSINESS WIRE)-- Thryv Holdings, Inc. (NASDAQ:THRY) (“Thryv” or the “Company”), the provider of Thryv® software, the end-to-end client experience platform for growing small businesses, announced financial results for the third quarter 2021. The Company has also raised its 2021 outlook for its SaaS segment.

“We are experiencing the modernization of the local economy with SMB's beginning to embrace cloud technologies and we see Thryv as leading the charge. This wave of adoption has propelled Thryv software to faster and faster growth," said Joe Walsh, CEO and president of Thryv. “We are seeing improvements in customer engagement, average spend and retention. These trends are delivering durable SaaS growth for Thryv. We are pleased to, once again, raise SaaS revenue guidance for 2021."

Third Quarter 2021 Financial Highlights:

  • US SaaS revenue was $45 million, a 41% increase year-over-year
  • US Marketing Services revenue was $213 million
  • Thryv International revenue was $39 million
  • Consolidated total revenue was $297 million, an increase of 24% year-over-year
  • Consolidated net income was $36 million
  • Consolidated adjusted EBITDA was $102 million, representing an adjusted EBITDA margin of 34%
  • Consolidated gross profit was $193 million, an increase of 43% year-over-year
  • Consolidated adjusted gross profit was $208 million

Additional US Business Highlights

  • SaaS Average Revenue per Unit ("ARPU")1 increased to $340 for the third quarter of 2021, compared to $260 in the third quarter of 2020
  • Total SaaS clients increased by 2% year-over-year to 45,000 for the third quarter of 2021
  • SaaS Monthly Churn2 was 2.1% for the third quarter of 2021, compared to 2.7% for the third quarter of 2020
  • SaaS Monthly Seasoned Churn3 was 1.7% for the third quarter of 2021
  • Net Dollar Retention4 improved 11 percentage points to 90% at end of the third quarter of 2021, when compared to the third quarter of 2020
  • Seasoned Net Dollar Retention5 improved 9 percentage points to 95% at end of the third quarter of 2021, when compared to the third quarter of 2020
  • SaaS active users and usage frequency reached a new all-time high as monthly active users6 increased 15%year-over-year

Outlook:

The Company is updating guidance7 for fiscal year 2021 as indicated below.

  • US SaaS year-over-year revenue guidance was raised to $169 – $171 million, up from the previously-announced $157 - $160 million
  • US Marketing Services revenue range raised to $785 - $790 million, up from the previously-announced $750 - $770 million
  • Thryv International fourth quarter revenue guidance range updated to A$53 million to A$57 million8

Earnings Conference Call Information

Thryv will host a conference call on Thursday, November 11, 2021 at 8:30 a.m. (Eastern Time) to discuss the Company's third quarter 2021 results. The conference call will be available via the Internet at investor.thryv.com. There will be several slides accompanying the webcast. Please go to the website at least 15 minutes prior to the call to register, download and install any necessary software. The recorded webcast will also be available on the Company's website.

If you are unable to participate in the conference call, a replay will be available. To access the replay, please dial (800) 770-2030 or (647) 362-9199 and enter “87769.”

________________________________

1

Defined as total client billings by month divided by the number of revenue-generating units during the month.

2

Calculated as the percentage decrease in billable clients in the current month compared to the prior month.

3

SaaS Monthly Seasoned Churn is defined as monthly churn excluding clients acquired over the previous 12 months.

4

Defined as the percentage of revenue from clients with monthly billed revenue in the current month compared to the same month in prior year.

5

Seasoned Net Dollar Retention is defined as net dollar retention excluding clients acquired over the previous 12 months.

6

Defined as a client with one or more users who log into our SaaS solutions at least once during the calendar month.

7

These statements are forward-looking and actual results may materially differ. Refer to the “Forward-Looking Statements” section below for information on the factors that could cause our actual results to materially differ from these forward-looking statements.

8

Thryv International includes Sensis Pty Ltd (“Sensis” or "Thryv Australia") results subsequent to the March 1, 2021 acquisition date.

Final Results

 

Thryv Holdings, Inc. and Subsidiaries

Consolidated Statements of Operations and Comprehensive Income (Loss)

(unaudited)

 

 

Three Months Ended

 

Nine Months Ended

 

September 30,

 

September 30,

(in thousands, except share and per share data)

2021

 

 

2020

 

 

2021

 

 

2020

 

Revenue

$

297,290

 

 

 

$

240,325

 

 

 

$

868,943

 

 

 

$

862,507

 

 

Cost of services

104,167

 

 

 

105,444

 

 

 

314,934

 

 

 

334,025

 

 

Gross profit

193,123

 

 

 

134,881

 

 

 

554,009

 

 

 

528,482

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

Sales and marketing

94,343

 

 

 

73,306

 

 

 

258,277

 

 

 

241,703

 

 

General and administrative

32,983

 

 

 

39,002

 

 

 

107,362

 

 

 

132,758

 

 

Impairment charges

 

 

 

1,184

 

 

 

3,611

 

 

 

19,414

 

 

Total operating expenses

127,326

 

 

 

113,492

 

 

 

369,250

 

 

 

393,875

 

 

 

 

 

 

 

 

 

 

Operating income

65,797

 

 

 

21,389

 

 

 

184,759

 

 

 

134,607

 

 

Other income (expense):

 

 

 

 

 

 

 

Interest expense

(12,050

)

 

 

(11,442

)

 

 

(38,159

)

 

 

(39,648

)

 

Interest expense, related party

(4,496

)

 

 

(4,167

)

 

 

(13,229

)

 

 

(13,903

)

 

Other components of net periodic pension benefit (cost)

273

 

 

 

(30,175

)

 

 

998

 

 

 

(31,312

)

 

Other expense

(98

)

 

 

 

 

 

(4,157

)

 

 

 

 

Income (loss) before income tax (expense) benefit

49,426

 

 

 

(24,395

)

 

 

130,212

 

 

 

49,744

 

 

Income tax (expense) benefit

(13,802

)

 

 

24,250

 

 

 

(33,723

)

 

 

(10,323

)

 

Net income (loss)

$

35,624

 

 

 

$

(145

)

 

 

$

96,489

 

 

 

$

39,421

 

 

Other comprehensive income (loss):

 

 

 

 

 

 

 

Foreign currency translation adjustment

(4,100

)

 

 

 

 

 

(8,545

)

 

 

 

 

Comprehensive income (loss)

$

31,524

 

 

 

$

(145

)

 

 

$

87,944

 

 

 

$

39,421

 

 

 

 

 

 

 

 

 

 

Net income (loss) per common share:

 

 

 

 

 

 

 

Basic

$

1.05

 

 

 

$

 

 

 

$

2.87

 

 

 

$

1.25

 

 

Diluted

$

0.95

 

 

 

$

 

 

 

$

2.67

 

 

 

$

1.16

 

 

 

 

 

 

 

 

 

 

Weighted-average shares used in computing basic and diluted net income (loss) per common share:

 

 

 

 

 

 

 

Basic

34,013,897

 

 

 

30,857,617

 

 

 

33,585,488

 

 

 

31,621,039

 

 

Diluted

37,620,116

 

 

 

30,857,617

 

 

 

36,110,702

 

 

 

33,990,771

 

 

 

Thryv Holdings, Inc. and Subsidiaries

Consolidated Balance Sheets

 

(in thousands, except share data)

September 30, 2021

 

December 31, 2020

Assets

(unaudited)

 

 

Current assets

 

 

 

Cash and cash equivalents

$

10,374

 

 

 

$

2,406

 

 

Accounts receivable, net of allowance of $19,365 in 2021 and $33,030 in 2020

313,285

 

 

 

296,570

 

 

Contract assets, net of allowance of $114 in 2021 and $338 in 2020

7,024

 

 

 

10,975

 

 

Taxes receivable

1,890

 

 

 

9,229

 

 

Prepaid expenses and other current assets

33,084

 

 

 

26,172

 

 

Indemnification asset

25,594

 

 

 

24,346

 

 

Total current assets

391,251

 

 

 

369,698

 

 

Fixed assets and capitalized software, net

70,269

 

 

 

89,044

 

 

Goodwill

676,440

 

 

 

609,457

 

 

Intangible assets, net

101,189

 

 

 

31,777

 

 

Deferred tax assets

114,062

 

 

 

93,099

 

 

Other assets

24,278

 

 

 

21,902

 

 

Total assets

$

1,377,489

 

 

 

$

1,214,977

 

 

Liabilities and Stockholders' Equity

 

 

 

Current liabilities

 

 

 

Accounts payable

$

16,929

 

 

 

$

8,927

 

 

Accrued liabilities

153,234

 

 

 

139,613

 

 

Current portion of unrecognized tax benefits

35,109

 

 

 

18,942

 

 

Contract liabilities

14,238

 

 

 

9,896

 

 

New Term Loan, current

70,000

 

 

 

 

 

Other current liabilities

31,018

 

 

 

30,022

 

 

Total current liabilities

320,528

 

 

 

207,400

 

 

New Term Loan, net

333,938

 

 

 

 

 

New Term Loan, related party

152,286

 

 

 

 

 

Senior Term Loan, net

 

 

 

335,683

 

 

Senior Term Loan, related party

 

 

 

113,482

 

 

ABL Facility

56,181

 

 

 

79,238

 

 

Leaseback obligations

 

 

 

54,798

 

 

Pension obligations, net

168,793

 

 

 

190,827

 

 

Deferred tax liabilities

 

 

 

508

 

 

Other liabilities

41,318

 

 

 

36,266

 

 

Total long-term liabilities

752,516

 

 

 

810,802

 

 

Commitments and contingencies

 

 

 

Stockholders' equity

 

 

 

Common stock - $0.01 par value, 250,000,000 shares authorized; 60,643,781, shares issued and 33,965,371 shares outstanding at September 30, 2021; and 59,590,422 shares issued and 32,912,012 shares outstanding at December 31, 2020

606

 

 

 

596

 

 

Additional paid-in capital

1,079,340

 

 

 

1,059,624

 

 

Treasury stock - 26,678,410 shares at September 30, 2021 and December 31, 2020

(468,613

)

 

 

(468,613

)

 

Accumulated other comprehensive income (loss)

(8,545

)

 

 

 

 

Accumulated deficit

(298,343

)

 

 

(394,832

)

 

Total stockholders' equity

304,445

 

 

 

196,775

 

 

Total liabilities and stockholders' equity

$

1,377,489

 

 

 

$

1,214,977

 

 

 

Thryv Holdings, Inc. and Subsidiaries

Condensed Consolidated Statements of Cash Flows

 

 

Nine Months Ended September 30,

(in thousands)

2021

 

 

2020

 

Cash Flows from Operating Activities

(unaudited)

 

(unaudited)

Net income

$

96,489

 

 

 

$

39,421

 

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

Depreciation and amortization

80,675

 

 

 

110,883

 

 

Amortization of debt issuance costs

3,431

 

 

 

801

 

 

Deferred income taxes

(57,823

)

 

 

(42,346

)

 

Provision for credit losses

3,211

 

 

 

27,709

 

 

Provision for service credits

10,595

 

 

 

28,268

 

 

Stock-based compensation expense (benefit)

6,232

 

 

 

(4,195

)

 

Other components of net periodic pension (benefit) cost

(998

)

 

 

31,312

 

 

Loss on termination of leaseback obligations

3,409

 

 

 

 

 

(Gain) loss on disposal/write-off of fixed assets and capitalized software

(44

)

 

 

3,476

 

 

Impairment charges

3,611

 

 

 

19,414

 

 

Non-cash (gain) loss from remeasurement of indemnification asset

(1,248

)

 

 

3,878

 

 

Other, net

592

 

 

 

 

 

Changes in working capital items, excluding acquisitions:

 

 

 

Accounts receivable

48,791

 

 

 

15,742

 

 

Contract assets

3,837

 

 

 

(803

)

 

Prepaid expenses and other assets

(3,184

)

 

 

(3,785

)

 

Accounts payable and accrued liabilities

(64,377

)

 

 

(44,380

)

 

Operating lease liability

(2,366

)

 

 

(3,998

)

 

Contract liabilities

(9,294

)

 

 

(5,911

)

 

Settlement of stock option liability

 

 

 

(896

)

 

Net cash provided by operating activities

121,539

 

 

 

174,590

 

 

 

 

 

 

Cash Flows from Investing Activities

 

 

 

Additions to fixed assets and capitalized software

(20,053

)

 

 

(17,030

)

 

Proceeds from the sale of building and fixed assets

63

 

 

 

1,546

 

 

Acquisition of a business, net of cash acquired

(175,370

)

 

 

 

 

Net cash (used in) investing activities

(195,360

)

 

 

(15,484

)

 

 

 

 

 

Cash Flows from Financing Activities

 

 

 

Proceeds from New Term Loan

418,070

 

 

 

 

 

Proceeds from New Term Loan, related party

260,930

 

 

 

 

 

Payments of New Tern Loan

(86,199

)

 

 

 

 

Payments of New Term Loan, related party

(36,801

)

 

 

 

 

Payments of Senior Term Loan

(335,821

)

 

 

(72,629

)

 

Payments of Senior Term Loan, related party

(113,789

)

 

 

(32,761

)

 

Proceeds from ABL Facility

793,604

 

 

 

868,811

 

 

Payments of ABL Facility

(816,661

)

 

 

(892,155

)

 

Purchase of treasury stock

 

 

 

(30,626

)

 

Other

4,184

 

 

 

113

 

 

Net cash provided by (used in) financing activities

87,517

 

 

 

(159,247

)

 

 

 

 

 

Effect of exchange rate changes on cash and cash equivalents

(3,446

)

 

 

 

 

Increase (decrease) in cash and cash equivalents and restricted cash

10,250

 

 

 

(141

)

 

Cash and cash equivalents and restricted cash, beginning of period

2,406

 

 

 

1,912

 

 

Cash and cash equivalents and restricted cash, end of period

$

12,656

 

 

 

$

1,771

 

 

 

 

 

 

Supplemental Information

 

 

 

Cash paid for interest

$

52,491

 

 

 

$

56,845

 

 

Cash paid for income taxes, net

$

58,491

 

 

 

$

15,757

 

 

 

Three Months Ended September 30,

 

Change

 

2021

 

 

2020

 

Amount

 

%

(in thousands of $)

(unaudited)

Revenue

 

 

 

 

 

 

 

Marketing Services

$

213,210

 

 

 

$

208,504

 

 

$

4,706

 

 

 

2.3

%

SaaS

44,800

 

 

 

31,821

 

 

12,979

 

 

 

40.8

%

Thryv International (1)

39,280

 

 

 

 

 

39,280

 

 

 

NM

 

Consolidated Revenue

$

297,290

 

 

 

$

240,325

 

 

$

56,965

 

 

 

23.7

%

 

 

 

 

 

 

 

 

Segment EBITDA

 

 

 

 

 

 

 

Marketing Services

$

96,231

 

 

 

$

66,733

 

 

$

29,498

 

 

 

44.2

%

SaaS

(5,508

)

 

 

2,561

 

 

(8,069

)

 

 

NM

 

Thryv International (1)

11,636

 

 

 

 

 

11,636

 

 

 

NM

 

Consolidated Adjusted EBITDA

$

102,359

 

 

 

$

69,294

 

 

$

33,065

 

 

 

47.7

%

 

Nine Months Ended September 30,

 

Change

 

2021

 

 

2020

 

Amount

 

%

(in thousands of $)

(unaudited)

Revenue

 

 

 

 

 

 

 

Marketing Services

$

643,938

 

 

 

$

767,553

 

 

$

(123,615

)

 

 

(16.1

)%

SaaS

123,437

 

 

 

94,954

 

 

28,483

 

 

 

30.0

%

Thryv International(1)

101,568

 

 

 

 

 

101,568

 

 

 

NM

 

Consolidated Revenue

$

868,943

 

 

 

$

862,507

 

 

$

6,436

 

 

 

0.7

%

 

 

 

 

 

 

 

 

Segment EBITDA

 

 

 

 

 

 

 

Marketing Services

$

277,546

 

 

 

$

289,423

 

 

$

(11,877

)

 

 

(4.1

)%

SaaS

(7,311

)

 

 

10,785

 

 

(18,096

)

 

 

NM

 

Thryv International (1)

33,810

 

 

 

 

 

33,810

 

 

 

NM

 

Consolidated Adjusted EBITDA

$

304,045

 

 

 

$

300,208

 

 

$

3,837

 

 

 

1.3

%

(1)

Thryv International includes Thryv Australia revenue subsequent to the March 1, 2021 acquisition date.

Non-GAAP Measures

Our results included in this press release include Adjusted EBITDA and Adjusted Gross Profit, which are not presented in accordance with U.S. generally accepted accounting principles (“GAAP”). These non-GAAP measures are presented for supplemental informational purposes only and are not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. Please refer to the supplemental information presented in the tables below for a reconciliation of Adjusted EBITDA to Net income (loss), and Adjusted Gross Profit to gross profit. Both Net income (loss) and Gross profit are the most comparable GAAP financial measure to Adjusted EBITDA and Adjusted Gross Profit, respectively.

We believe that these non-GAAP financial measures provide useful information about our financial performance, enhance the overall understanding of our past performance and future prospects and allow for greater transparency with respect to important metrics used by our management for financial and operational decision-making. We believe that these measures provide additional tools for investors to use in comparing our core financial performance over multiple periods with other companies in our industry. However, it is important to note that the particular items we exclude from, or include in, our non-GAAP financial measures may differ from the items excluded from, or included in, similar non-GAAP financial measures used by other companies in the same industry.

The following is a reconciliation of Adjusted EBITDA to its most directly comparable GAAP measure, Net income (loss):

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

(in thousands)

2021

 

 

2020

 

 

2021

 

 

2020

 

Reconciliation of Adjusted EBITDA

 

 

 

 

 

 

 

Net income (loss)

$

35,624

 

 

 

$

(145

)

 

 

$

96,489

 

 

 

$

39,421

 

 

Interest expense

16,546

 

 

 

15,609

 

 

 

51,388

 

 

 

53,551

 

 

Income tax expense (benefit)

13,802

 

 

 

(24,250

)

 

 

33,723

 

 

 

10,323

 

 

Depreciation and amortization expense

31,049

 

 

 

35,454

 

 

 

80,675

 

 

 

110,883

 

 

Loss on termination of leaseback obligations

 

 

 

 

 

 

3,409

 

 

 

 

 

Restructuring and integration expenses (1)

2,312

 

 

 

6,710

 

 

 

15,036

 

 

 

23,902

 

 

Transaction costs (2)

3,987

 

 

 

4,913

 

 

 

19,973

 

 

 

14,679

 

 

Stock-based compensation expense (benefit) (3)

2,340

 

 

 

1,289

 

 

 

6,232

 

 

 

(4,195

)

 

Other components of net periodic pension (benefit) cost (4)

(273

)

 

 

30,175

 

 

 

(998

)

 

 

31,312

 

 

Non-cash (gain) loss from remeasurement of indemnification asset (5)

(404

)

 

 

(540

)

 

 

(1,248

)

 

 

3,878

 

 

Impairment charges

 

 

 

1,184

 

 

 

3,611

 

 

 

19,414

 

 

Other (6)

(2,624

)

 

 

(1,105

)

 

 

(4,245

)

 

 

(2,960

)

 

Adjusted EBITDA

$

102,359

 

 

 

$

69,294

 

 

 

$

304,045

 

 

 

$

300,208

 

 

(1)

For the three and nine months ended September 30, 2021 and 2020, expenses relate to periodic efforts to enhance efficiencies and reduce costs, and include severance benefits, loss on disposal of fixed assets and capitalized software, and costs associated with abandoned facilities and system consolidation.

(2)

Expenses related to the Company's direct listing, Sensis acquisition and other transaction costs.

(3)

Company records stock-based compensation expense related to the amortization of grant date fair value of the Company’s stock-based compensation awards. Additionally, stock-based compensation expense includes the remeasurement of these awards at each period end, prior to October 1, 2020.

(4)

Other components of net periodic pension cost is from our non-contributory defined benefit pension plans that are currently frozen and incur no additional service costs. The most significant component of other components of net periodic pension cost relates to the mark to market pension remeasurement.

(5)

In connection with the YP Acquisition, the seller provided the Company indemnity for future potential losses associated with certain federal and state tax positions taken in tax returns filed by the seller prior to the Acquisition Date.

(6)

Other primarily includes expenses related to potential non income-based tax liabilities. Additionally, during the three and nine months ended September 30, 2021, other includes foreign exchange related expense.

The following is a reconciliation of Adjusted Gross Profit, to its most directly comparable GAAP measure, Gross profit:

 

Three Months Ended September 30,

(in thousands)

2021

 

2020

Reconciliation of Adjusted Gross Profit

 

 

 

Gross profit

$

193,123

 

 

$

134,881

 

Plus:

 

 

 

Depreciation and amortization expense

14,930

 

 

18,097

 

Stock-based compensation expense

156

 

 

70

 

Adjusted Gross Profit

$

208,209

 

 

$

153,048

 

Gross Margin

65.0

%

 

56.1

%

Adjusted Gross Margin

70.0

%

 

63.7

%

 

 

Nine Months Ended September 30,

(in thousands)

2021

 

2020

Reconciliation of Adjusted Gross Profit

 

 

 

Gross profit

$

554,009

 

 

$

528,482

 

Plus:

 

 

 

Depreciation and amortization expense

42,991

 

 

55,084

 

Stock-based compensation expense (benefit)

320

 

 

(176

)

Adjusted Gross Profit

$

597,320

 

 

$

583,390

 

Gross Margin

63.8

%

 

61.3

%

Adjusted Gross Margin

68.7

%

 

67.6

%

Forward-Looking Statements

Some statements included in this release constitute forward-looking statements. Statements that include the words “may”, “will”, “could”, “should”, “would”, “believe”, “anticipate”, “forecast”, “estimate”, “expect”, “preliminary”, “intend”, “plan”, “project”, “outlook”, “future”, “forward”, “guidance” and similar statements of a future or forward-looking nature identify forward-looking statements. These statements are not guarantees of future performance. Forward-looking statements provide current expectations with respect to our financial performance and future events with respect to our business and industry in general. Forward-looking statements are based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Accordingly, there are or will be important factors that could cause our actual results to differ materially from those indicated in these statements. We believe that these factors include, but are not limited to, the risks related to the following: risks related to the ongoing COVID-19 pandemic, the Company’s ability to maintain adequate liquidity to fund operations; the Company’s future operating and financial performance; the Company’s ability to consummate acquisitions, or, if consummated, to successfully integrate acquired businesses into the Company’s operations, the Company’s ability to recognize the benefits of acquisitions, or the failure of an acquired company to achieve its plans and objectives; limitations on our operating and strategic flexibility and the ability to operate our business, finance our capital needs or expand business strategies under the terms of our credit facilities; our ability to retain existing business and obtain and retain new business; general economic or business conditions affecting the markets we serve; declining use of print yellow page directories by consumers; our ability to collect trade receivables from clients to whom we extend credit; credit risk associated with our reliance on small and medium sized businesses as clients; our ability to attract and retain key managers; increased competition in our markets; our ability to obtain future financing due to changes in the lending markets or our financial position; our ability to maintain agreements with major Internet search and local media companies; reduced advertising spending and increased contract cancellations by our clients, which causes reduced revenue; and our ability to anticipate or respond effectively to changes in technology and consumer preferences. All subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by such cautionary statements.

If one or more events related to these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may differ materially from what we anticipate. For these reasons, we caution you against relying on forward-looking statements. All forward-looking statements included in this press release are expressly qualified in their entirety by the foregoing cautionary statements. These forward-looking statements speak only as of the date hereof and, other than as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Thryv Holdings, Inc.

Thryv Holdings, Inc. (NASDAQ: THRY) is a global software and marketing services company that empowers small- to medium-sized businesses (SMBs), franchises and agencies to grow and modernize their operations so they can compete and win in today's economy. Over 45,000 businesses use our award-winning SaaS platform, Thryv®, to manage their end-to-end customer experience, which has helped businesses across the U.S. and overseas grow their bottom line. Thryv also manages digital and print presence for over 400,000 businesses, connecting these SMBs to local consumers via proprietary local search portals and print directories. For more information about Thryv Holdings, Inc, visit thryv.com.

Media Contact:
Paige Blankenship
Thryv, Inc.
972.453.3012
paige.blankenship@thryv.com

Investor Contacts:
Cameron Lessard
Thryv, Inc.
214.773.7022
cameron.lessard@thryv.com

Source: Thryv

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